Develop Global's Big Win: What Lies Ahead with the A$46 Million Mt Marion Contract?
Develop Global Strikes Gold: Awarded A$46 Million Contract for Mt Marion Lithium Underground Development
Develop Global Limited (ASX: DVP) clinched a significant victory, securing a lucrative A$46 million underground development contract for the establishment and advancement of an exploration decline at the Mt Marion lithium mine in Western Australia (WA). The project, a joint venture between Mineral Resources Limited (ASX: MIN) and Ganfeng Lithium Co. Ltd, holds strategic importance, positioned merely 40km southwest of Kalgoorlie and a mere 95km from Develop's Pioneer Dome Lithium Project.
Where and When
The 18-month contract is slated to kick off its operations early in 2024, marking the initiation of a pivotal phase in the advancement of Mt Marion's lithium mining endeavors.
Why It Matters
This multimillion-dollar contract not only underscores Develop Global's prowess in securing significant mining projects but also represents a pivotal moment in advancing Australia's lithium mining industry. The contract aligns with the company's strategic ambition of expanding its foothold in WA's rich mineral landscape.
How the Deal Unfolded
The scope of work under the contract spans a spectrum of critical activities, including the establishment of surface facilities to bolster underground mining operations, portal establishment, infrastructure installation, and the excavation of underground capital development and exploration drill platforms.
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Of particular significance is the development through the orebody underground to glean crucial geological and operational data vital for future mining activities. Additionally, the contract sets the stage for an extensive diamond drilling campaign, aimed at expanding the maiden underground resource of 9. 5Mt at 1. 52% Li2O, as previously disclosed in MIN's ASX release dated 22 September 2023.
Director's Confident Note: Paving the Path for Success
Managing Director Bill Beament expressed profound confidence in Develop's capabilities, viewing the contract as a testament to the company's exceptional underground mining team. Emphasizing the team's unparalleled experience in developing and operating underground operations, Beament highlighted the ongoing success at the Bellevue gold mine, signifying the team's ability to deliver projects on schedule and within budget.
Strategic Vision and Contributions
Beament reiterated Develop's strategic objective of securing multiple contracts within its mining services division, underscoring the company's commitment to leveraging its expertise and contributing significantly to the Mt Marion project. He exuded confidence in the team's capability to apply their extensive skills and experience towards the successful execution of the underground development.
Develop Global Limited's groundbreaking contract for the Mt Marion lithium mine's underground development marks a pivotal moment in Australia's lithium mining sector. The company's strategic prowess, backed by a proficient team, underscores its commitment to delivering excellence while carving a path toward furthering Australia's foothold in the global lithium market.
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